2. DAVID BENNETT (National—Hamilton East) Link to this
to the Minister of Finance
What are the measures this Government is taking to improve New Zealand’s financial position?
Hon BILL ENGLISH (Minister of Finance) Link to this
The Government has moved to get on top of spiralling public debt, to maintain New Zealand’s credit rating, to continue investment to support jobs through programmes such as the home insulation programme and infrastructure investment, and to focus on better, smarter public services for less money.
We have made good progress to date. New Zealand has maintained its credit rating. We have maintained entitlements and protected the most vulnerable in society. We have been able to assist in rebuilding business and consumer confidence. It is my hope that unemployment will not reach the peaks that have been forecast, but if it does, that we will get unemployment levels down quickly, because whether people have a job is actually the most important measure of a recession.
Hon David Cunliffe Link to this
Given the Minister’s statement that he is going to “tilt the playing field in favour of investment, saving, working, and exporting,” does he agree with Pipfruit Growers New Zealand and the Manufacturers and Exporters Association that the rapidly rising dollar is driving exporters out of business; if so, what is he going to do about it?
I am concerned about the level of the dollar, particularly given that the economy has been in recession for about 18 months. It is going to take time for us to undo the damage done by that member’s party over the last 10 years, when it allowed debt-funded consumption to get out of hand.
It would be difficult to create a sustainable, better-balanced economy if, for instance, the dollar kept rising and stayed very high. It would also be difficult to get any kind of balance in the economy if we followed the advice of the Labour Opposition, which is to go out and borrow another $6 billion when we are already up to our ears in debt.
Hon David Cunliffe Link to this
I raise a point of order, Mr Speaker. Yesterday I raised, and you upheld, a point of order on exactly the same matter, from that same member. That point was that he has no responsibility for Labour Party policy, and the Labour Party has released no such policies, nor made any such commitments.
Mr SPEAKERThe member must be careful not to try to debate issues by way of a point of order. I do not think what the Minister of Finance, Bill English, said was excessive at all. He did not get into Labour’s policies, at all.
Hon David Cunliffe Link to this
I raise a point of order, Mr Speaker. It is a fresh point of order. I seek your guidance. Yesterday, you upheld an almost identical point of order of mine from the same member. You declared that he did not have responsibility for Labour Party policy and asked him to desist from those comments. It would appear that the member has trifled with your ruling of yesterday, because he has done exactly the same stunt today. I seek your clarification on what steps you would propose to take.
I can assure the member that the Minister was not trifling with my ruling from yesterday. If the member reflects back on what transpired yesterday, the Minister started to make much more comment about the quality of certain Labour policies. Today he was simply making an allegation about what he understands to be a certain amount of money that would need to be borrowed. He did not go further into particular policies. I will not take the matter further. I did not consider that excessive, at all.
Hon David Cunliffe Link to this
Without reference to the point of order that you upheld yesterday, I ask your guidance now on what appears to be a new or extended ruling that you just introduced. If it is now permissible for Ministers to refer, to some extent, to the policies of other parties, what is the guideline—
I invite the member to resume his seat and not trifle with the Chair. A little bit of common sense should be applied. The member has been in this House long enough to know the banter that goes back and forth in answering questions, and I will intervene if Ministers excessively focus on the policies of another political party, which are not their responsibility. But the extent to which the Minister referred to the Opposition’s policy was not excessive at all, to me. I think this is wasting the time of the House.